Which of the following is the current group within the International Accounting Standard Board organization that interprets existing standards or provides guidance in areas for which no accounting formal standard exists?

Question

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The International Financial Reporting Interpretations Committee (IFRIC) is the current group within the International Accounting Standards Board (IASB) organization that interprets existing standards or provides guidance in areas for which no accounting formal standard exists. The IFRIC carries on the work previously done by the Standing Interpretations Committee (SIC).

Which of the Following Is the Current Group Within the International